Project development was initiated by Hamina Energy Ltd in 2012. At the end of 2014 the project was granted with 27,7 m€ investment subsidy by Finnish state. Hamina LNG Oy was established in 2015 by Hamina Energy Ltd and Estonian energy company Alexela. Hamina LNG investment decision was made 22 June 2017. After that Wärtsilä was selected as a supplier of the terminal and became one of the owners. Construction work and area filling started in October 2017.
The groundbreaking ceremony of the LNG terminal was held in September 2018.
The commercial commissioning of the terminal took place in October 2022.